The  Digital banking definition is banking done through the digital platform, doing away with all the paperwork like cheques, pay-in slips, Demand Drafts, and so on.

Core banking is a banking service provided by a group of networked bank branches where customers may access their bank.

Cheque Truncation System (CTS) is a cheque clearing system undertaken by the Reserve Bank of India (RBI) for quicker cheque clearance.

RTGS (real time gross settlement) and NEFT (national electronic funds transfer) are electronic payment systems that allow individuals to transfer funds between banks. Both these systems are maintained by the Reserve Bank of India. It is applicable only for money transfer within the country.